Collateral Insurance Processor

F.N.B. Corporation•Hermitage, PA

About The Position

Collateral Insurance Processor Position Overview The Collateral Insurance Processor is responsible for ensuring the Bank’s collateralized loan portfolio remains fully protected through accurate and timely tracking of insurance coverage. This role supports lending, servicing, and risk functions by monitoring insurance compliance, coordinating with third‑party vendors, and maintaining precise documentation in accordance with Bank policy and regulatory standards.

Requirements

High School Diploma or GED
1 year of related experience preferred (lending, loan servicing, insurance, or financial operations)
Strong written and verbal communication skills
High attention to detail with strong accuracy in data entry
Ability to prioritize and multi-task in a fast‑paced environment
Proficiency with general office equipment
Competent computer skills, including job‑related software
MS Word – Intermediate
MS Excel – Intermediate

Responsibilities

Insurance Tracking & Compliance Monitor hazard and flood insurance coverage for designated loan portfolios to ensure required collateral protection is maintained.
Identify lapses or deficiencies in insurance coverage and initiate force‑placed insurance through approved third‑party vendors as needed.
Review insurance documents, appraisals, and related collateral records to verify accuracy and compliance with internal guidelines and regulatory requirements.
Vendor Coordination & Reporting Communicate updates, discrepancies, and required reporting data to external vendors in a timely and accurate manner.
Ensure adherence to established reporting guidelines by maintaining clear, complete, and current records of all policy details.
Provide vendors with relevant insurance documents and verify that coverage information is correctly reflected in tracking systems.
Documentation & System Maintenance Update the loan insurance tracking system with precise and current policy information, including coverage levels, effective dates, and expiration details.
Maintain thorough electronic documentation to support audits, customer inquiries, and compliance reviews.
Claims & Risk Support Gather and analyze documentation needed to support insurance claims, including verifying policy details and assessing insurable values as required.
Assist lending and servicing teams in resolving insurance-related issues impacting collateral risk.
Audit, Compliance & Reporting Provide accurate documentation and reporting for internal audits, regulatory examinations, and risk management reviews.
Maintain awareness of compliance requirements related to collateral insurance, including federal flood regulations and Bank policies.
Additional Duties Participate in departmental projects, workflow improvements, and other duties as assigned.
Risk & Compliance Responsibilities All employees are accountable for managing risk associated with their role by understanding, identifying, escalating, and mitigating risks in accordance with F.N.B. Corporation’s risk management program.
Compliance with regulatory laws, Bank policies, and operational procedures is required for all positions.